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Camurus ups full year 2020 revenues guidance despite COVID-19 pandemic effects.

NORDIC BUSINESS REPORT-June 24, 2020-Camurus ups full year 2020 revenues guidance despite COVID-19 pandemic effects

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Camurus AB (STO:CAMX), a Swedish, science-led biopharmaceutical company, on Tuesday provided revised full year 2020 guidance for the company's net revenues and now expects net revenues to increase to SEK340m to SEK380m, as compared with the prior guidance of SEK290m to SEK330m, with estimated product sales of SEK310m to SEK340m, as compared with the prior SEK240m to SEK280m.

Reportedly, these improvements are driven by increasing market shares of Buvidal for treatment of opioid dependence in Europe and Australia.

Operating expenses are expected amount to SEK570m to SEK610m as communicated previously.

According to the company, after stronger than expected sales of Buvidal during the first half of 2020, it is raising its revenues and product sales guidance and is expecting a corresponding improvement of the full year results.

The COVID-19 pandemic has had both positive and negative impact on the business. It has been a catalyst for uptake in clinics with experience of Buvidal, however, has also limited access to healthcare professionals and delayed the treatment initiation of new patients and switching of patients to Buvidal in some markets, the company added.

(EUR1.00=SEK10.53)

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Publication:Nordic Business Report
Article Type:Financial report
Date:Jun 24, 2020
Words:220
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